iPhone 5: no change to the design at all?

We're doing our best to piece together what Apple has up its sleeve for the iPhone 5, and there's two distinctive camps starting to emerge.

One camp is suggesting Apple will delay the next iPhone's arrival until it can get the next-gen spec befitting the iPhone 4's successor. And the other is that the iPhone 5 will effectively be a more modest update, with Apple holding back the big guns for the iPhone 6.

Today's sprinkling of rumour dust falls a little into both camps, and comes to us via analyst Ming-Chi Keo of Concord Securities, who has a fairly good track record with these things, it has to be said.

After conversations with sources in Apple's supply chain, Keo says the iPhone 5 will come with a modest upgrade on the inside, mainly in the form of the A5 processor found in the iPad 2 and a bump to an 8-megapixel camera, but design-wise it will remain all but unchanged.

The same sources repeat a story we've been hearing a lot lately, that mass production of the next iPhone will only get underway in September.

Whether the notion of an unchanged design rules out the narrower bezel theory we've heard, which will accommodate a larger display size within an unchanged chassis, remains to be seen. But as far as iPhone rumours go, this one seems reasonably believable from where we're standing.